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Category Archives: Oceania
Asia and Oceania Liquids Storage Industry Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned…
Posted: November 17, 2019 at 2:43 pm
DUBLIN--(BUSINESS WIRE)--The "Liquids Storage Industry Outlook in Asia and Oceania to 2023 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Terminals" report has been added to ResearchAndMarkets.com's offering.
The report provides terminal name, operator name, commodity stored and storage capacity for all active, planned, announced, and decommissioned liquids storage terminals in the region by country for the period 2013-2023.
China, with it's planned and announced (new-build) terminals, is set to drive most of the liquids storage capacity growth in Asia and Oceania. The country is expected to account for 59% of the regions' total capacity growth between 2019 and 2023. China is likely to have a new-build liquids storage capacity of 22.3 million cubic meters (mmcm) by 2023.
In China, 10 planned and two announced liquids storage terminals are expected to start operations during the forecast period. The Zhanjiang IV terminal, which is expected to start operations in 2022, will have the highest liquids storage capacity among all the terminals with 7.0 mmcm.
Following China, Indonesia is the second highest contributor to the liquids storage capacity growth in Asia and Oceania with a new-build capacity of 6.1 mmcm by 2023. Of the total capacity, 4.5 mmcm is likely to come from early-stage announced projects and the rest is from planned terminals.
India is the third-highest contributor to the liquids storage capacity growth in Asia and Oceania. The country is expected to witness start of operations of 18 planned and announced liquids storage terminals by 2023 with a total capacity of 3.3 mmcm. Mandvi will have the highest liquids storage capacity of 0.8 mmcm. It is expected to start operations in 2022.
Planned and announced (new-build) storage terminals capacity additions and existing capacity expansions by key countries in Asia and Oceania were also included. The report also provides capital expenditure outlook by key countries, year on year, from 2019 to 2023. Further the report also offers recent developments and latest awarded contracts at country level, wherever available.
Reasons to buy
Key Topics Covered:
1. List of Tables & Figures
2.1. What is this Report About?
2.2. Market Definition
3. Asia and Oceania Liquids Storage Industry
3.1. Asia and Oceania Liquids Storage Industry, Snapshot
3.1.1. Asia and Oceania Liquids Storage Industry, Overview of Active Storage Terminals Data
3.2. Asia and Oceania Liquids Storage Industry, Storage Operations
3.2.1. Asia and Oceania Liquids Storage Industry, Storage Capacity by Key Countries, 2013-2023
3.3. Asia and Oceania Liquids Storage Industry, Overview of Planned and Announced Storage Terminals Data
3.4. Asia and Oceania Liquids Storage Industry, Planned and Announced Liquids Storage Terminals, and Capital Expenditure by Country
3.4.1. Asia and Oceania Liquids Storage Industry, Planned and Announced Liquids Storage Terminals
3.4.2. Asia and Oceania Liquids Storage Industry, Annual New-Build Capital Expenditure Outlook for Planned and Announced Storage Terminals
3.4.3. Asia and Oceania Liquids Storage Industry, Annual New-Build Capital Expenditure Outlook for Planned and Announced Storage Terminals by Key Countries
3.5. Asia and Oceania Liquids Storage Industry, New Storage Terminals and Capacity Expansions by Key Countries
3.5.1. Asia and Oceania Liquids Storage Industry, Storage Capacity Additions through New and Existing Storage Terminals by Key Countries, 2019-2023
3.5.2. Asia and Oceania Liquids Storage Industry, Capacity Additions through New Storage Terminals by Key Countries, 2019-2023
3.5.3. Asia and Oceania Liquids Storage Industry, Capacity Additions through Expansions of Existing Storage Terminals by Key Countries, 2019-2023
4. Asia and Oceania Liquids Storage Industry, China
4.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in China, 2013-2023
5. Asia and Oceania Liquids Storage Industry, Japan
5.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in Japan, 2013-2023
6. Asia and Oceania Liquids Storage Industry, South Korea
6.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in South Korea, 2013-2023
7. Asia and Oceania Liquids Storage Industry, India
7.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in India, 2013-2023
7.2. Recent Developments
7.2.1. Mar 11, 2019: India Seeks Saudi Investment in Strategic Oil Storage
7.2.2. Nov 12, 2018: ISPRL Signs MoU with ADNOC to Explore Storage of Crude Oil at Padur Underground Facility in Karnataka
7.2.3. Jun 27, 2018: Indian Cabinet Approves Establishment of Additional 6.5MMT Strategic Petroleum Reserves at Chandikhol in Odisha and at Padur, Karnataka
7.2.4. May 21, 2018: India Receives 1st Cargo of ADNOC Crude Oil for its Mangalore Strategic Petroleum Reserve
7.2.5. May 12, 2018: Indian Petroleum Minister Witnesses Loading of 1st ADNOC Crude Oil Consignment for Mangalore SPR Facility at Abu Dhabi, UAE
7.3. Recent Contracts
7.3.1. Motiprabha Infratech Secures Contract worth INR8.411 Million (US$0.121 Million) from Indian Oil Corp (IOCL)
8. Asia and Oceania Liquids Storage Industry, Indonesia
8.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in Indonesia, 2013-2023
8.2. Recent Contracts
8.2.1. FES International Secures Contract from Orwell Offshore Consortium
9. Asia and Oceania Liquids Storage Industry, Singapore
9.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in Singapore, 2013-2023
10. Asia and Oceania Liquids Storage Industry, Malaysia
10.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in Malaysia, 2013-2023
10.2. Recent Developments
10.2.1. May 14, 2019: Commencement of Construction of Terminals and Facilities for Phase 3 Pengerang Deepwater Terminals, and Entry into Long Term Storage Agreement with BP Singapore
10.2.2. Oct 15, 2018: Crude Oil Storage Tanks, Designed and Constructed by Punj Lloyd, Enter 'Malaysia Book of Records'
10.3. Recent Contracts
10.3.1. BMT Secures Contract from Dialog Group
10.3.2. Equinor Signed an Agreement with Global Petro Storage (GPS) to Build and Operate a Liquefied Petroleum Gas (LPG) Terminal and Storage Facility at Port Klang in Malaysia.
10.3.3. Penta-Ocean (Malaysia) Secures Contract from Dialog E & C
11. Asia and Oceania Liquids Storage Industry, Australia
11.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in Australia, 2013-2023
11.2. Recent Contracts
11.2.1. McDermott International Secures Sizable Contract from Puma Energy (Australia) Fuels
11.2.2. Jacobs Engineering Secures Contract from Puma Energy (Australia) Fuels
11.2.3. UGL Secures Contract Extension worth Approximately AUD150 Million (US$116.27 Million) from Australian Terminal Operations Management (ATOM)
12. Asia and Oceania Liquids Storage Industry, Vietnam
12.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in Vietnam, 2013-2023
13. Asia and Oceania Liquids Storage Industry, Pakistan
13.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in Pakistan, 2013-2023
13.2. Recent Developments
13.2.1. Apr 12, 2018: Adviser to PM on Aviation Division Mr. Sardar Mehtab Ahmed Khan Inaugurates Country's Largest Fuel Farm Facility Jointly Set up by PSO and APL at New Islamabad International Airport
14. Asia and Oceania Liquids Storage Industry, Myanmar
15. Asia and Oceania Liquids Storage Industry, Thailand
16. Asia and Oceania Liquids Storage Industry, Philippines
17. Asia and Oceania Liquids Storage Industry, Bangladesh
18. Asia and Oceania Liquids Storage Industry, Sri Lanka
19. Asia and Oceania Liquids Storage Industry, Brunei
20. Asia and Oceania Liquids Storage Industry, Taiwan
21. Asia and Oceania Liquids Storage Industry, New Zealand
22. Asia and Oceania Liquids Storage Industry, Papua New Guinea
22.1. Asia and Oceania Liquids Storage Industry, Storage Capacity in Papua New Guinea, 2013-2023
22.2. Recent Developments
22.2.1. Dec 17, 2018: OSD: Successful Commissioning of Erima Fuel Terminal in Port Moresby
23. Asia and Oceania Liquids Storage Industry, Afghanistan
24. Asia and Oceania Liquids Storage Industry, Nepal
25. Asia and Oceania Liquids Storage Industry, Mongolia
26. Asia and Oceania Liquids Storage Industry, Maldives
27. Asia and Oceania Liquids Storage Industry, Cambodia
28. Asia and Oceania Liquids Storage Industry, Samoa
29. Asia and Oceania Liquids Storage Industry, Laos
For more information about this report visit https://www.researchandmarkets.com/r/pckgfv
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Norwegian Cruise Line CEO on partnering with Jaden Smith-founded water company: ‘We’re taking the issue of the environment seriously’ – CNBC
Posted: at 2:43 pm
Norwegian Cruise Line is on a mission to be more eco-friendly by removing millions of single-use plastic water bottles from its fleet by Jan. 1, President and CEO Frank Del Rio told CNBC on Monday.
The company expects to replace more than 6 million plastic water bottles each year with refillable and recyclable plant-based cartons.
"We're taking the issue of the environment seriously," Del Rio said in a "Mad Money" interview with Jim Cramer conducted on the newly built ship Norwegian Encore. "We ply the ocean's waters. We do everything we possibly can, through technology [and] through policy procedure, to prevent any kind of pollution in the water or in the air."
The sustainability initiative is powered by Norwegian's partnership with Just Goods, the sustainable packaging company founded by American recording artist and environmental activist Jaden Smith. Just Goods uses 100% spring water and its bottles are made mostly from renewable material, including trees and sugar cane, according to the company.
Norwegian teamed with Just Goods as part of the cruise line's Sail & Sustain Environmental Program, which aims to reduce its carbon footprint and contribution to landfill waste. It follows a wave of companies in a range of industries looking to shore up their sustainability strategies as interest in socially responsible investing grows.
"We're doing it as well on the Oceania region brands with Vero Water," Del Rio added.
Oceania Cruises, one of three brands under Norwegian's portfolio, spent 2019 outfitting its six ships with sparkling-water distillation systems from Vero Water in hopes of cutting use of three million plastic bottles annually.
The Norwegian brand sails 16 ships to almost 300 destinations around the world. The Norwegian Encore, which measures almost 1,100 feet long and can carry nearly 4,000 guests, will embark on its maiden voyage later this month with trips to the Caribbean on its schedule.
The company also has new ships in the pipeline. The four-ship Regent Seven Seas Cruises brand plans to add a vessel in late 2020 and another in 2023. The parent cruise line, Norwegian Cruise, expects to grow its total fleet from 26 to 37 ships by 2027.
Del Rio is bullish about the business' prospects, suggesting economists and investors see the cruise industry as a "leading economic indicator."
"Customers today are buying cruises eight, nine, 10 months into the future. We know what's going to happen and we also know that those who booked eight or nine months ago, and are on board today, they're spending money like there's no tomorrow," he said. "The customer, especially the North American consumer, is alive and well, spending money, and there's no end in sight."
Norwegian, the smallest of the three major cruise companies in the market, reported 3% sales growth in its third quarter. Wall Street expects the company to grow revenue by 5.7% to more than $6.4 billion full-year 2019.
Shares are up more than 22% year to date.
Posted: at 2:43 pm
Imagine seeing the planet the entire planet all in one journey. Thats exactly what an around-the-world cruise can offer.
Forget sailing for a week to the Caribbean. These trips can be gone for weeks, and sometimes months, as they sail from port to port, cross oceans, and explore ports of call that are almost never visited by other cruise ships.
As the popularity of cruising has boomed, so too has interest in these trips. Passengers now have their choice of a surprising amount of sailings across multiple cruise lines.
Of course, more sailings means more choices. You can now take sailings ranging anywhere from a few weeks (for a partial around-the-world journey) all the way to 200-day trips that circumnavigate the globe.
Of course, as you would expect taking one of these cruises, its a very different experience than what youd get from a more traditional cruise. Even if youd taken lots of sailings across multiple lines, the nature of sailing for such an extended period means that some things are extremely different.
Here are several things you should keep in mind about sailing on a worldwide cruise.
If theres one thing to know about a worldwide cruise, its that you should expect to clear your schedule. A full around-the-world trip will take at least 100 days, give or take two weeks. Weve even found some trips of 200 days. During that trip youll make stops in dozens of ports as you trek from continent to continent and ocean to ocean.
Want a shorter trip? Around-the-world trips usually have shorter segments that you can also book. So while the complete cruise might take 110 days to circumnavigate, there could be an 18-day segment or a 45-day segment that you could book during that larger trip.
If youve never sailed for longer than a week, these shorter segments might be a good way to dip your toe in the water to see if such a cruise is right for you.
Dont think that taking an around-the-world cruise is going to be on just any cruise line. Most of the big lines like Carnival and Royal Caribbean dont offer these cruises. Instead, youre most likely going to be on smaller, luxury lines like Oceania, Regent, and Crystal Cruises.
One larger line that does offer extended worldwide trips is Princess. If youre worried about how the experience will be aboard a particular cruise line, Princess offers shorter trips that you can take to get a feel for the experience without committing to going on a full around-the-world cruise.
Is stopping in Cozumel or Nassau not really you cup of tea? If not, then you might love taking an extended worldwide trip. While some major ports are visited, many are smaller, out of the way places that arent as heavily visited by cruise ships.
For instance, a trip that visits South America will visit Buenos Aires and Rio de Janeiro, but it also Porto Belo, Puerto Madryn, Buzios.
Never heard of these spots? Thats exactly the point. Around-the-world cruises give you the opportunity to explore places where few other travelers visit, giving you a real view of the culture of a region instead of just catering to cruise ships.
Depending on the cruise line and your specific deal, worldwide cruises often throw in a lot of extras. Of course, these extended trips arent cheap but getting freebies can make your cruise a lot more comfortable. Its also nice not to have to worry about being nickeled and dimed when youre on a cruise ship for a month or two.
For instance, we found deals on Oceania Cruises that include your choice of free shore excursions, free beverage package, or free onboard credit with your cruise. Their deal also took care of gratuities, onboard medical care, free Internet, and more.
Not every line will have these free, but these sorts of deals are out there.
Many of the headlines about cruising revolve around the newest and biggest ships. If youre used to the mega-ships, know that around-the-world cruises are going to be on smaller vessels. After all, there arent near as many people taking 60-day cruises across the Pacific as people taking a week to sail the Caribbean.
For example, Princess Cruises sails the Pacific Princess, which is only about 600-feet long and carries about 700 passengers. Oceanias Insignia, which sails a 200-day cruise, is about the same size.
Now, not every cruise ships that sails worldwide cruises is this size, but in general the ships are much smaller than the new mega-ships that are introduced each year. This will give you a better opportunity to get to know your other passengers as youll be spending lots of time with just a few hundred people.
If you were traveling on your own to a country requiring a visa, then its up to you to figure everything out that you need. On a worldwide cruise, you at least have some help. The cruise line will be knowledgeable on what you need to do to get all squared away before you travel.
That makes it much easier to navigate the complex web of rules and requirements for visiting so many countries on a worldwide trip.
Even if you were to book a land-based tour that lasted the same length of time as an around-the-world cruise, theres no way that youd be able to visit the wide variety of places youll see when you sail.
The biggest issue with traveling around the world is transportation. Flights, buses, and trains are an exhausting way to get from place to place. But with a ship, you can move from port to port without the same hassles.
While you dine, visit with other passengers, or sleep comfortably in your bed, youre taken to your next destination. Thats much better than having to try to sleep in an airplane seat as you fly from country to country. It leaves you feeling refreshed as you greet each day with a new port of call.
First things first, dont think that your around-the-world cruise is going to be light on your pocketbook. An Owners Suite on a 200-day trip aboard Oceania Cruises can run upwards of $160,000 per person before taxes and fees. Obviously there are cheaper cabins available, as well as less expensive cruise lines.
As a rule of thumb, you can expect to spend at least $10,000 for two people to sail on a cruise thats at least a month long. Prices can rise dramatically from there depending on cabin type, cruise line, and length of trip.
Theres no denying that the cruises are pricey, but when you compare them to the cost of airline tickets, hotels, food, and more that it would cost you to replicate the trip on your own, its actually not that bad of a deal.
In fact, if you want to truly travel the world, its likely among the cheapest ways to do so while still being in comfort.
The good news is that the Internet has made communicating back home easier than ever. Meanwhile, Internet service is available on the ship, as well as in port. That makes it easier than ever to keep in touch back home.
Even so, you should be prepared to have some homesickness when youre on an extended worldwide cruise. Away for so long means you will inevitably miss some of the people back home. And even if you can keep in touch, dont forget about the comforts of home. Sometimes you miss your favorite shows, or your neighborhood restaurant, or even the taste of your coffee at home.
Keep this in mind and realize that bringing some creature comforts with you on your cruise can make you feel a little better and not so far from home when youre on the other side of the world.
So many things today are done completely online, including buying a cruise. And while you might have booked a shorter cruise completely online, wed suggest having a travel agent or speaking with a booking agent with the cruise line to get your trip scheduled.
Around-the-world cruises are a much bigger investment of time and money than a traditional trip and theres a lot that you might have questions about.
The good news is that every cruise line and booking agency will have people that can help guide you through the booking process, tell you more about the trip, and answer any questions you might have. We suggest getting help before you booking to make sure you know what to expect before you book that ticket.
Have more questions about what its like to sail around the world on a cruise? Let us know in the comments below.
Posted: October 20, 2019 at 10:06 pm
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). To keep the lesson grounded in practicality, we'll use ROE to better understand Oceania Healthcare Limited (NZSE:OCA).
Oceania Healthcare has a ROE of 7.4%, based on the last twelve months. One way to conceptualize this, is that for each NZ$1 of shareholders' equity it has, the company made NZ$0.07 in profit.
View our latest analysis for Oceania Healthcare
The formula for return on equity is:
Return on Equity = Net Profit Shareholders' Equity
Or for Oceania Healthcare:
7.4% = NZ$45m NZ$610m (Based on the trailing twelve months to May 2019.)
Most readers would understand what net profit is, but its worth explaining the concept of shareholders equity. It is all earnings retained by the company, plus any capital paid in by shareholders. Shareholders' equity can be calculated by subtracting the total liabilities of the company from the total assets of the company.
Return on Equity measures a company's profitability against the profit it has kept for the business (plus any capital injections). The 'return' is the amount earned after tax over the last twelve months. That means that the higher the ROE, the more profitable the company is. So, as a general rule, a high ROE is a good thing. That means ROE can be used to compare two businesses.
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As is clear from the image below, Oceania Healthcare has a lower ROE than the average (11%) in the Healthcare industry.
NZSE:OCA Past Revenue and Net Income, October 20th 2019
That certainly isn't ideal. We prefer it when the ROE of a company is above the industry average, but it's not the be-all and end-all if it is lower. Still, shareholders might want to check if insiders have been selling.
Virtually all companies need money to invest in the business, to grow profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
Although Oceania Healthcare does use debt, its debt to equity ratio of 0.44 is still low. Its ROE isn't particularly impressive, but the debt levels are quite modest, so the business probably has some real potential. Judicious use of debt to improve returns can certainly be a good thing, although it does elevate risk slightly and reduce future optionality.
Return on equity is one way we can compare the business quality of different companies. A company that can achieve a high return on equity without debt could be considered a high quality business. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.
If you would prefer check out another company -- one with potentially superior financials -- then do not miss thisfree list of interesting companies, that have HIGH return on equity and low debt.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
If you spot an error that warrants correction, please contact the editor at email@example.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
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Posted: at 10:06 pm
Commonwealth Games medallist Natasha Hansen racing in the women Elite Keirin at the SIT ZeroFees Velodrome in Invercargill on Friday, during the Oceania Track Championships.
Southland riders have impressed during the Oceania Track Championships at the cycling velodrome in Invercargill this week.
Cycling Southland'sGlen Thomson saidNatasha Hansen was looking dynamicin the heats of the women'selite keirin event on Friday and qualified for the final.
Another Southlander, Corbin Strong, has also featured strongly,finishing fourth in theomnium despite not being part of the men's elite team.
Jordan Castle competing at the SIT ZeroFees Velodrome in Invercargill on Friday, during the Oceania Track Championships.
Southland's Eddie Dawkins, who has already won gold during the championships, willracein the men'skeirin event onSaturday.
Anotherfavourite for that event isAustralia's MattGlaetzer, a friend and rival ofDawkins,Thomson said.
He believed the two "beasts" could reach speeds of up to 80kmh during the racing.
Women's elite keirin race at the SIT Velodrome in Invercargill, during the Oceania Track Championships this week.
"Australia versus New Zealand, we love that sort of battle."
Dawkins and his team-mates in the New Zealand men's sprint teamset the championships alighton Wednesday night.
Theywon the OceaniaChampionshipin a record-winningtime of 42.508 seconds.
It was the best time laid down by a New Zealand sprint team.
The championships, whichstarted on Wednesday and will finish on Saturday,has attracted nearly 180 of New Zealand and Australia's best track riders on the SIT Velodrome.
Thomson said the track was running fast and records were being broken.
Cycling Southland general manager Nicola Willssays the elite riders from the twocountrieshave produced some red hot racing as they vie to qualifyfor the 2020 Tokyo Olympics.
Wills is thrilled to have the event in Invercargill for the first time in four years.
The Southland public hasgot behind the event, with strong crowd numbers and hundreds of school children turning up each day.
Southland has been represented in the New Zealand eliteteam through the likes of Hansen, Dawkins,Kirstie James, Nick Kergozou, Tom Sexton, Conor Shearing, Bradley Knipe.
Five Southland riders have formed part of the New Zealand under-19 team racing at the event; Navarh Robertson, Mitchell Fitzsimons, Tayla Green, Jessica Spencer and Natalie Green.
Posted: at 10:06 pm
Seoul Incheon International is subsidising the marketing costs of five trial routes as part of an incubator programme aimed at expanding the airport's network.
Participating airlines are Asiana Airlines, flying to Melbourne and Lisbon; low-cost carrier T'way Air, to Batam; and Korean Air, to Dalat and Krabi.
Cirium schedules data shows that Korean Air is operating the trial flights to Dalat with Boeing 737-900s, while Asiana will begin flying Boeing 777-200ERs to Melbourne in the next quarter.
The airport operator will subsidise the airlines' marketing costs by up to $50,000 over three years and offer additional funding of $20,000 if the route is converted to a regular service.
Under the same incubator programme, the operator signed a memorandum of understanding with Melbourne Tullamarine airport in September to attract new airlines and routes to the Oceania region.
It is also actively marketing its ability to support new flights and expanding routes, with plans to grow its network to 200 destinations.
"We plan to enhance the convenience of passengers by strengthening Incheon International airport's aviation network through new service and expansion of routes, says Lim Byeong-gi, the airport's head of future business development.
Posted: at 10:06 pm
Boeing 787s going through final assembly at the companys Everett facility. (Boeing)
Boeing says the airlines of Oceania will require 820 new aircraft in the two decades ahead to meet the demand for air travel led by passenger growth into and out of the region.
The manufacturers outlook covering Australia, New Zealand and the nations of the South Pacific is a decline of 50 aircraft from the 870 new aircraft deliveries for the region in the 2018-2037 Current Market Outlook (CMO).
Boeing Commercial Airplanes senior managing director for marketing Darren Hulst noted aviation played a key role in the the travel and tourism sectors, which have become an increasingly significant contributor to economic growth or gross domestic product (GDP).
About 11 per cent of Australias economy is travel and tourism 12 per cent of jobs and we see that growing faster than GDP growth over time, Hulst told reporters in Sydney on Wednesday.
Aviation will continue to have an increasing role in enabling economic growth but also supporting more and more tourism, more and more travel, whether that be for tourism or for leisure in this marketplace.
The Boeing forecast said the 820 new aircraft comprised 10 in the regional jets segment, 560 in the single-aisle segment, 250 in the widebody segment and nil in the freighters segment.
The only change from the prior years CMO was in the widebody segment, which was reduced by 50 aircraft from 300 previously.
While a 16.7 per cent reduction in widebody demand would seem, on the surface, statistically significant, Hulst said the bulk of the change was the decision to reallocate expected aircraft deliveries to other regions due to the way the CMO now treated airline affiliates.
He cited the example of the Jetstar group of carriers, which has operations in Australia and New Zealand, Japan, Singapore and Vietnam.
We used to forecast our aircraft based on where the parent company was domiciled, Hulst explained.
For example Jetstar in Japan and Vietnam would be considered Oceania. Now, weve adjusted that to really focus on where the airplanes will be flying.
Thats moved some of the demand out of the region but it hasnt changed the nature of the demand, it just moved it to its rightful home.
The improved operating performance of new single-aisle aircraft was also a factor as aircraft such as the Airbus A321LR and 737 MAX were being deployed on longer sectors.
Hulst noted more than half of the capacity today in Australia was on single-body aircraft such as 737 and A320 family of aircraft.
Both of the fleets have seen an increase in the last decade of over 50 per cent, Hulst said.
Widebodies are being de-emphasised regionally because of the flexibility of these single-aisle aircraft.
We will continue to see that because of the versatility of these fleets and going forward, both from an industry perspective and also here in the region, we continue to see a slow creep upward in terms of the average capacity.
A supplied image of Boeing 737 MAX 7, 8 and 9 artwork. (Boeing)
Hulst said the average number of seats on a single-aisle aircraft a decade ago was about 140 seats. Today the figure was closer to 155-160 seats.
This was achieved via upgauging and adding more seats onto existing aircraft.
In terms of the fleet composition, the number of aircraft in Oceania was expected to grow by about 60 per cent from 550 today to 920 by 2038.
Some 450 aircraft would be replaced, with 370 new aircraft joining the fleet for growth. Finally 100 aircraft flying today will still be in the skies in two decades time, according to Boeing estimates.
The split between growth and replacement for Oceania was at odds with the global CMO forecast, which showed 56 per cent of all aircraft deliveries would be for growth and 44 per cent to replace older airframes.
Market fragmentation is the main driver behind Oceanias modest passenger growth as airlines utilize new smaller and highly efficient widebody airplanes to increase city-pair growth to international destinations, Boeings CMO said.
The bulk of the growth in passenger traffic for Oceania, which Hulst described as a very stable, mature market, was likely to be for travel into and out of the region, which was expected to grow by between three and four per cent a year.
More inbound traffic, more outbound traffic, more medium and long-haul traffic, which is driving that growth rate higher, Hulst said.
The inter-regional markets to and from Oceania are the ones that have seen the biggest growth and likely will see the fastest growth going forward.
We see a lot of opportunity for continued expansion in these markets.
This compared with average annual growth of one to two per cent a year over the past five years in the domestic and trans-Tasman markets of Oceania.
The Boeing CMO, first published in June, estimated that over the next 20 years airlines would need 44,040 new aircraft worth some US$6.8 trillion. This was up from 42,730 aircraft in the prior years outlook.
A supplied image of the Boeing 787-10 on its first flight in April 2017. (Boeing)
Meanwhile, Hulst said Boeing was continuing to develop the specific timing of when the 777-8X would enter service, having pushed back the timetable for the program from 2022 to an unspecified future date in August.
Our timetable on the 777-8 obviously is still under consideration for when it actually enters service, Hulst said.
I would say we are absolutely committed to the 777-8 as a product and as a model but it is really more of when the combination of the demand from our customers and how it aligns with the design and production system for the 777-X as a program.
I dont have a specific date but we absolutely are committed to the 777-8 and think that it provides unique product capability that nothing else can in the market.
The 777-8X was one of the aircraft under consideration for Qantass Project Sunrise, which sought an aircraft able to operate nonstop from Australias east coast to London and New York, among other cities.
Airbus has put forward its A350 platform for Qantass consideration.
With the 777-8X not available by Qantass projected 2023 start date, Boeing has said previously it had offered a compelling offer to account for the new timetable for the aircraft.
The airline has said previously it would decide whether to proceed with Project Sunrise by the end of calendar 2019.
An artists impression of the Boeing777-9X and 777-8X. (Boeing)
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Veranda Stateroom Oceania Sirena.Photo: Michel Verdure EXOTIC ENCOUNTERS
Oceania Cruises has produced a Sirena Exotic Collectionof cruises in the Middle East and Asia. The nine 10- to 24-day itineraries launch in November 2020 and continue into April 2021, kicking off with a 12-day voyage from Jerusalem to Istanbul. Sirena then sails through the Red Sea to explore the Emirates, Qatar, Bahrain and Oman. After that, it's onwards from Dubai to Mumbai, Yangon and Bangkok before Sirena traces its route back to Athens. All itineraries include overnight port calls, with some featuring as many as four overnight port stays.
Phone 1300 355 200. See oceaniacruises.com
Abercrombie & Kent has a new expedition cruise to Iceland and Greenland in August 2020 aboard the exclusively chartered Le Boreal. The cruise sails vast and spectacular landscapes such as the Westman archipelago, ice-covered Lindenow Fiord and Prince Christian Sound. Guests will explore the high Arctic tundra on foot to admire wildflowers and migrating seabirds, and will enjoy regular Zodiac excursions to glaciers, fiords and fishing villages. Cultural experiences are another highlight on visits to remote Greenlandic communities where guests learn first-hand about the local people, their cultures and ancient archaeological sites.
Phone 1300 590 317. See abercrombiekent.com.au
Latitude 33 has released a 26-night Golden Triangle & Rafflesjourney in Asia departing on November 13, 2020 that opens with an eight-night land tour in India and finishes with a stay in Singapore's Raffles Hotel. In between is a 16-night cruise from Mumbai to Singapore on Crystal Symphony, with stopovers in southern Indian spice-trading port Kochi, Sri Lankan capital Colombo, and two port nights in Yangon in Myanmar for an exploration of its golden temples, ancient pagodas and colonial heritage. Phuket, Penang and Port Kelang (Kuala Lumpur) round off the voyage.
Phone 1300 636 848. See latitude33.travel
Ponant is offering 62 cruises across Africa, Asia, the Indian Ocean and Polynesia in its 2020-21 season. Among them, a 10-night China & Vietnam cruise departs Shanghai on October 28, 2020 and visits Wenzhou, Xiamen, Hong Kong, Hainan Island and Vietnam's Ha Long Bay, while a 14-night Jewels of the Indian Oceancruise departing March 29, 2021 between Port Louis in Mauritius and Zanzibar in Tanzania visits Reunion Island and Madagascar. An eight-night Treasures of the Persian Gulfcruise has 10 departures between November 2020 and January 2021 and visits Abu Dhabi, Doha and Oman.
Get the latest news and updates emailed straight to your inbox.
Phone 1300 737 178. See au.ponant.com
A reminder that we're approaching the end of Cruise Month, organised each October by the member cruise lines and travel agencies of Cruise Lines International Association (CLIA) to showcase their cruise offerings. The good news is that the month finishes in style with a special emphasis on luxury cruising. If big-ship, budget-end cruise holidays aren't for you, head down to a cruise-focused travel agency and ask about the ever more impressive array of luxury ships that have floated out of the dockyards in recent years. To find a specialist CLIA travel agent in your area, see cruising.org.au
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There will be plenty of world champions bling on display when the track cycling international season gets underway at the Oceania Championships in Invercargill.
Around 180 riders from Australia and New Zealand will compete in the four-day UCI continental championship from 16-19 October at the SIT Zero Fees Velodrome in Invercargill. As well as Oceania titles, the championship offers all-important qualifying spots for next years UCI World Championships.
It will also be a shakedown for riders ahead of the UCI Track World Cup season, which is highlighted with back-to-back events at Cambridge on 6-8 December and the following week in Brisbane.
The winners of 25 world championship rainbow jerseys will be competing at Invercargill to add some real sparkle to the event as the leading riders amp-up for a massive nine months ahead to the Tokyo Olympics.
The charge from across the Tasman comes from their sprinters led by four-time team sprint world champion Kaarle McCulloch and 2018 individual sprint world champion Matt Glaetzer, along with Sam Welsford, a three-time team pursuit world champion and the current scratch race rainbow jersey holder.
The Vantage New Zealand rainbow wearers include three-time team sprint victors Ethan Mitchell, Sam Webster and Eddie Dawkins, the 2017 individual pursuit winner Jordan Kerby and current omnium world champion, Campbell Stewart.
Current Australian team pursuit world champions Welsford and Kelland OBrien will pair-up to focus on the two-rider Madison, which is a new addition to the Olympic schedule.
The Vantage elite New Zealand team will be competing in force with their entire squad, with some riding for their centres as well.
Our endurance and sprint teams have worked hard over the winter in building a base for the upcoming track season. So this is a good opportunity for as many of our best riders, both elite and junior, to stretch their legs in very strong competition, said Cycling New Zealand high performance director, Martin Barras.
It is firstly a chance for us to find out where all the riders are at in terms of their development and what they need to focus on. It will give us information we need to select final combinations for the world cup season coming up, especially the home round in Cambridge, said Barras.
It also offers some important ranking points towards the world championships.
We will also be watching with real interest in the development of our junior riders, particularly the ones who have been prominent internationally this year.
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Former Liverpool, Real Madrid, Manchester United and England striker Michael Owen has been invited to come to Fiji.
Owen will attend the 2019 Fiji Football Awards Night in February 2020.
The main guest is not yet fully finalised, so it could still change, but Fiji FA President Rajesh Patel says they are in discussions with FIFA over Owen coming to the country.
Owens appearance is made possible by the FIFA Legends Program, which saw former Manchester United and Arsenal full-back, Mikal Silvestre, come to Fiji earlier this year for the 2018 Awards Night.
The Fiji FA also says Owen will conduct clinics and visit schools and clubs during his stay.
This year we had Mikal Silvestre as the main guest during our annual awards function at the Sofitel Resort and next year we are getting ready to have Michael Owen, FFA President Rajesh Patel told the FAs website.
We want to reward our hardworking players and officials in a bigger and better way every year and having legends of the sport present at the event surely adds more colour and encourages everyone to contribute more to football, he said.
Michael Owen is most famous for playing over 200 matches for Liverpool and scoring 118 goals. He also played for Real Madrid, Newcastle and Manchester United.
For the English national team, he turned out 89 times and scored 40 goals. He is number 11 on the list of players with the most games for England and number five on the list of players with the most goals for Three Lions.
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